Why lot of countries do not allow to use Crpto?

[katri]

There are issues that needs to considered, government think crypto currency could harm their citizen because it has no protection due to its ecosystem is decentralization. No one to blame if anything happen to the peoples money. Further, they could not implement tax to the holder because its purely decentralized and they don't have control over it.

[1715597536]

1715597536

[1715597536]

1715597536

[1715597536]

1715597536

[KenChanYu]

If you look at it, it may be possible but it takes a long time to implement such a thing. the government is still seeing the development of crypto this year whether the enthusiasts increase each year or decrease. if more and more crypto enthusiasts then the government in each country will implement the system of trade between countries using crypto.

You are mistaken the faster and the biggest the market of cryptocurrencies gets the more afraid they are going to be of the survival of their own currencies, they are scared right now even if bitcoin is still very small, what do you think they are going to think when bitcoin is used by hundreds of millions of people and we begin to use bitcoin directly instead of exchanging for fiat first?

This is because each country has its own standards and policies into accepting cryptocurrency. Other reasons could be market is still young and developing, government may find it unstable. They are also maybe unsure about cryptocurrency, because it's decentralized. On the other hand, I also believe that it's best if they would study and familiarize its nature, how valuable and profitable it is, and how it could help people change their standards of living, while earning at own comfort. It's important to have proper awareness and education to increase the level of understanding.

[cryptocurrencyguru]

mostly countries like Nepal and Bangladesh and Pakistan are completely negative against cryptocurrencies

[Sled]

If you look at it, it may be possible but it takes a long time to implement such a thing. the government is still seeing the development of crypto this year whether the enthusiasts increase each year or decrease. if more and more crypto enthusiasts then the government in each country will implement the system of trade between countries using crypto.

You are mistaken the faster and the biggest the market of cryptocurrencies gets the more afraid they are going to be of the survival of their own currencies, they are scared right now even if bitcoin is still very small, what do you think they are going to think when bitcoin is used by hundreds of millions of people and we begin to use bitcoin directly instead of exchanging for fiat first?

This is because each country has its own standards and policies into accepting cryptocurrency. Other reasons could be market is still young and developing, government may find it unstable. They are also maybe unsure about cryptocurrency, because it's decentralized. On the other hand, I also believe that it's best if they would study and familiarize its nature, how valuable and profitable it is, and how it could help people change their standards of living, while earning at own comfort. It's important to have proper awareness and education to increase the level of understanding.

I think it is not their own policies or standards, it is their instinct that just keeping them to stay away from the cryptocurrency, they are always feeling that it is not a good choice to just go and accept cryptocurrency because they might lose some profit because of its volatility and so on but if they will do research first then they will find out that they are wrong.

[ejandjm18]

The reason why lot of countries do not allow to use Bitcoin and other decentralised cryptocurrencies because it will allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.
Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly.

[millionaireshs]

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

Usually small country doesn't allow to use crypto currency because they will make their country strong and become economic stability for the people because crypto currency are able to use used even in individual person. their government doesn/t approved them specially they are starting to grow up.

[Sadlife]

Because people tend to fear the unknown and ignorance causes people to be terrified. In this case our government fears accepting bitcoin or crypto currencies as payment or an investment opportunity because they think it will disrupt their economy and destroy their own fiat currency. That's is why most countries ban it.

[Eigig]

There are a lot of countries do not allow to use crypto, because the government  do not want to be blame by people in their state for scams that might be happenning in cryptos, the government might accept the cryptos in the near future, but they will have the agreement with the crypto management, the government wants to regulate the cryptos ,so that the transactions of cryptos will be transparent.

[ApocalypseNow]

The reports where more than billions of dollars have been lost to failed ICOs and scams is enough to threaten a country and make them quickly decide to prohibit their citizens from investing in crypto. Maybe they just need the dust to settle first so they can invest sooner.

[777Jolami]

Because this place is potentially risky, it could cause the country to collapse, perhaps an easy coin to finance the terrorists, money launderers easier in this area.

[Roboabhishek]

CryptoBTC = Hard to trace, Hard to trace = No tax.

If gov doesn't get tax which they want then they will try to get rid of obstacle preventing them, It's simple as that.

[maxreish]

I can see reasons why some countries still did not want the crypto currency, maybe they are in the process of studying what will be the possible impact of crypto in their economy, and what good or bad can do of crypto in their citizens.

[Tomborneque_1102]

Maybe these Countries which don't allow Bitcoin are thinking that their Country will not benefit from Bitcoin at all. because Bitcoin doesn't pay tax. and also, maybe for security purposes. I hope that someday they will see Bitcoin as a big help for their Economy, knowing that it can help a lot of their citizens financially.

[pokeronlinestatus]

state wants to get tax. the input and output of the money can not be controlled. also a serious competitor for bankers. also a good way to make money. countries are opposed to it. a money they can not control is troubling governments.

This is what i also think, some country government wants to get tax because of being regulated on their country which bitcoin cannot give them as an exchange. Also this could be a potential problem on banking system, take note that bitcoin is used as a currency so there is a possibility that people will use it more than fiat currency.

Yeah it is right that governments want tax on bitcoin transactions and as it is decentralized governments cannot collect tax on crypto. It will take time to legalize bitcoin by the whole world and then governments will be able to impose tax on bitcoin transactions and trade. On the other hand bitcoin investment and earnings reduced the burden of unemployment from the government.

[zakariajaki]

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

I agree with your opinion that many countries do not allow their inhabitants to use the crypto currency, one of the reasons is related to the currency confersion and security of the investor but so far the investor's security is already guaranteed by the wallet itself so that the state will have no effect nor will it be responsible lose or increase your income, the purchasing power of currency confers is only the value of coins or tokens that are configured as standard instead of using the original currency, but that should be observed when the state is unable to monitor transactions when the population has used the crypto currency, taxes, and it becomes an internal reason from the government from the point of economic income, especially the sale and purchase tax, may be useful and successful for all of us

[chrisculanag]

Because every bad news can effect the goodness of crypto even its useful . And also government afraid about the illegal using of this kind of online money ,  like as payment for buying illegal drugs in online and many more bad things that can happen with cryptocurrency. Just focus in positive ways and share some important of crypto to the community . 

[lingwistiko]

The reason behind it might be because they don't want to go on an uncharted territory where they might find themselves in chaos while their economy is just in a boom. Negative perceptions to cryptocurrencies can not be deny as rich countries like China and Russia ban cryptos for so many reasons.

[Starving_Marvin]

We need more of the countries which has already accepted bitcoin and some of the other cryptocurrencies, in order to another countries to look on them, examine their experience and to follow their decisions.

[Kira_lapa]

I think that fear and unpredictability stop the leaders of some states from accepting the crypto currency.

[MiXxe]

The reason behind it might be because they don't want to go on an uncharted territory where they might find themselves in chaos while their economy is just in a boom. Negative perceptions to cryptocurrencies can not be deny as rich countries like China and Russia ban cryptos for so many reasons.

You're right. They are threatened that cryptocurrencies might initiate a paradigm shift in the economy not knowing that this is already helping many people even before this became successful. But we can not blame these countries. Most of them had experienced to be occupied by different countries so I am thinking if they are considering this as form of colonization.